The Thailand Bond Market Association announced it is adopting blockchain for bond registration and plans to tokenize bonds for faster settlement in bond trading.
Currently in Thailand, banks and securities traders act as bond registrars. Blockchain will allow these firms to see holdings in real-time and expedite the process of completing bond transactions form 15 to three days. The association said it is working on implementing the system in a sandbox enabling the Thai Securities and Exchange Commission to review it.
“It would be a hybrid kind of decentralized DLT (distributed ledger technology). There is no need for consensus but it is a rotation system,” said Thada Phutthitada, President of the Association according to the
Thai Examiner.
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